Semiconductor exposure expands as AI chip weight is reduced
Applied Materials, Lam Research, and ASML Holding were the biggest increases, while NVIDIA, Alphabet Inc. (Class C), Alphabet Inc. (Class A), and Apple were cut sharply. Netflix was also added to a larger weight, and Micron Technology, Intuit, Meta Platforms, Broadcom Inc., and Microsoft were all reduced. The resulting mix is most exposed to semiconductor and chip-equipment names, led by Applied Materials, Lam Research, ASML Holding, and Micron Technology.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| AMAT | — | 9.09% | 23.22% | Increased |
| LRCX | — | 11.02% | 18.64% | Increased |
| ASML | — | 8.28% | 12.69% | Increased |
| NFLX | — | 1.90% | 3.44% | Increased |
| INTU | — | 15.70% | 13.87% | Reduced |
| MU | — | 17.10% | 13.43% | Reduced |
| AVGO | — | 4.92% | 4.52% | Reduced |
| MSFT | — | 3.62% | 3.40% | Reduced |
| META | — | 4.59% | 3.16% | Reduced |
| GOOGL | — | 6.64% | 1.76% | Reduced |
| GOOG | — | 6.48% | 1.23% | Reduced |
| AAPL | — | 4.44% | 0.48% | Reduced |
| NVDA | — | 6.22% | 0.15% | Reduced |